Are you considering real estate investment, but finding it challenging due to high prices in your current state? Or perhaps you’re already living in Oklahoma and are interested in investing in real estate within the state? Allow me to share my perspective on why I believe investing in real estate in Oklahoma is an excellent idea. I’m Marcie Billen, a residential real estate agent specializing in Oklahoma properties.

Here are my top seven reasons why I consider Oklahoma to be a prime location for real estate investment. It’s important to note that as a residential real estate agent, my opinions may be biased towards this specific market. While I do have facts and figures supporting some of these reasons, they are also based on my personal experience.

#1 Inexpensive

Let’s start with number one: The Oklahoma real estate market offers affordability. While I wouldn’t characterize it as the cheapest option available, Oklahoma is known for its relatively affordable real estate prices. We take pride in being budget-friendly without compromising on quality. The low cost of living in Oklahoma further contributes to this affordability. What sets our real estate market apart is its stability. Unlike some coastal states that experience volatile fluctuations, Oklahoma’s market tends to remain steady. This stability translates into consistent appreciation, providing a reliable real estate investment opportunity. Over a span of five years, from 2016 to 2021, our home values witnessed an average increase of approximately 40%, varying slightly from property to property.

#2 Massive Growth

Moving on to number two: Rapid growth. In 2021, Oklahoma City proudly secured the sixth spot among the fastest-growing cities in the United States. Since the onset of the pandemic in 2020, the state has experienced a significant surge in housing demand, contributing to the considerable increase in home prices.

Now, you might be wondering what factors are driving this remarkable growth in Oklahoma City. Well, there are countless reasons, but let’s explore a few key ones. First and foremost, job opportunities. Oklahoma boasts a diverse range of industries, including the Department of Defense, expanding companies like Hobby Lobby, thriving healthcare facilities, and a flourishing tech sector. From energy companies to various other sectors, there are ample employment options available. Some individuals even cite the political landscape as a motivating factor for relocating to Oklahoma. Additionally, improved travel convenience plays a role. Oklahoma has made substantial investments in its airports, resulting in enhanced accessibility and, in some cases, reduced flight prices. These compelling factors, including job opportunities, rapid growth, and improved travel convenience, make investing in real estate in Oklahoma a promising prospect for long-term financial gain.

#3 Overflow from Texas

Moving on to my third reason: Influx from Texas. While it’s not solely limited to Texas, people from all over the country are choosing to relocate to Oklahoma. However, the overflow from Texas is particularly significant. We’ve witnessed a notable trend of individuals selling their homes in Texas, where the cost of living is higher, at a premium price and subsequently moving to Oklahoma, where real estate is comparatively more affordable. While this phenomenon is not an exact science, Oklahoma consistently ranks as the top destination for those leaving Texas. Year after year, we observe the highest influx of individuals migrating from Texas to Oklahoma. This influx of individuals from Texas, seeking more affordable housing options in Oklahoma, presents a unique opportunity for real estate investors to capitalize on the growing demand and potential profitability in the state.

#4 Universities

Moving on to my fourth reason: Universities. Oklahoma boasts two prominent public universities that contribute to the state’s appeal. The first is located in Norman, south of the Oklahoma City metro area, renowned for its highly-rated campus life, affordable cost of living, and accessible education. The second major public university, Oklahoma State University, is situated in Stillwater, a distinct town that lies closer to Tulsa.

One of the key attractions for students considering OSU is its significantly lower tuition costs, which amount to only 78% of the national average. In addition to these public universities, Oklahoma is also home to numerous private institutions. Investors often find value in acquiring properties, including multiplexes, in close proximity to these educational centers for the students that take residence in the area during the school year.

#5 Potential to Build

Furthermore, the untapped land potential in Oklahoma presents a compelling opportunity for real estate investment. The state still possesses substantial open land in both urban and rural areas, providing ample room for residential and commercial development. This abundance of available land grants investors the prospect to build and capitalize on the growing demand in Oklahoma’s real estate market.

#6 Quality of Life Improvements

Another compelling reason to consider investing in real estate in Oklahoma is the notable improvements in quality of life. Cities like Oklahoma City and Tulsa have experienced remarkable economic growth, resulting in the development of vibrant downtown areas. These urban centers offer a host of amenities, including parks, museums, walkable neighborhoods, and an array of award-winning restaurants. Residents and investors alike are drawn to these cities for the diverse range of entertainment options, such as concerts and professional sports, which contribute to a fulfilling and enjoyable lifestyle.

#7 Pro- landlord State

The final reason on my list of why investing in Oklahoma real estate is advantageous is the state’s landlord-friendly environment. Oklahoma’s laws and regulations are generally favorable towards landlords, making the eviction process relatively straightforward. In case a tenant fails to pay rent or violates the lease agreement, landlords can issue a five-day notice, and if the issue remains unresolved, they can proceed with eviction. Typically, it takes around seven days to schedule a court date for eviction, and once the eviction is granted by the judge, the tenant has 48 hours to vacate the property.

Considering these factors, investing in Oklahoma real estate offers the benefits of a pro-landlord legal framework, providing landlords with a more streamlined process to handle rental issues.

So hopefully that answered your questions as to why it’s such a great idea to invest in real estate in Oklahoma. If you are planning to move to Oklahoma you can check this relocation guide!